Policy and Strategy
National Bank urges institutions not to foreclose on the property during COVID-19 crisis
The First Deputy Inspector General of the National Bank of Cambodia has requested all banks and microfinance institutions to avoid seizure of clients' assets while the economic situation slows down due to the COVID-19 pandemic. According to a local press release, Mr Kith Sovannarith, First Deputy Inspector General of the National Bank of Cambodia, requested all banks and microfinance to solve t...
Read MoreWorld Bank: Cambodia’s economic growth to slow to 2.5% in 2020 due to COVID-19
Cambodia’s economic growth is predicted to decrease by 2.5% in the first quarter of 2020, due to inactivity in the tourism and construction sectors resulting from the outbreak of the COVID-19 pandemic in the country. The World Bank released an Economic Update for East Asia and the Pacific in the time of COVID-19 report on Tuesday 01 April estimating the economic impact of the virus pandemic. ...
Read MoreHousing loans affected by COVID-19 granted relief
Home improvement loans and housing loans are among the loans that are being granted relief through loan restructures from banks and microfinance institutions (MFIs). The directive aims to ease the burden of loan borrowers whose incomes are reduced and have difficulty paying back due to the COVID-19 pandemic. In a directive statement issued on 27 March, the National Bank of Cambodia requires ban...
Read MoreCambodia to suspend hydropower dam plan on Mekong River for 10 years
Cambodia will suspend hydropower dam plans on the mainstream of the Mekong River for the next decade until 2030 and will look to coal, gas and renewable energy such as solar energy instead. The decision was made by the Ministry of Mines and Energy to great applause from civil society especially environmental groups and people affected by the project. In supporting this wise decision, the WWF Co...
Read MoreJapan provides US$310m for social and economic development in Cambodia
Samdech Techo Hun Sen presided over an Exchange of Notes with Japan’s official development assistance worth US$310 million to Cambodia for economic and social development on the morning of 24 March 2020. The document was signed by H.E. Prak Sokhonn, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation and H.E. Mikami Masahiro, Japanese Ambassador to Cambodia, to i...
Read MoreConstruction in context of COVID-19 stable for Q1 2020, says MLMUPC
A spokesman for the Ministry of Land Management, Urban Planning and Construction, H.E. Seng Lot, said that the construction sector in Cambodia in the context of COVID-19 has not decreased. The statistic was announced during a press conference on "Progress and Continuing Direction of the Ministry of Land Management, Urban Planning and Construction" at the Office of the Council of Ministers on 16 Ma...
Read More50% discounts in Siem Reap after government advice
A five-star hotel in Siem Reap has announced a 50% discount from March to May on its services in response to the impact of the Coronavirus, or Covid-19, on tourism. The announcement came after Siem Reap provincial authorities called on all hotel owners in the Siem Reap area in early March 2020 to consider reducing prices and catering service fees to attract more tourists in Khmer New Year. T...
Read MoreMPWT: Covid-19 issue does not affect Cambodia’s road development projects
The recent Covid-19 issue does not affect the development of Cambodia's roads financed by the People's Republic of China. This statement was made by H.E. Sun Chanthol, Minister of Public Works and Transport during an interview with the press at the inauguration ceremony for National Road 55 and the ground-breaking ceremony of National Road 10 on the morning of 9 March 2020. “The problem of C...
Read MoreSamdech Techo asks developers to delay real estate payment for workers
Covid-19 respiratory infections have caused negative effects on the economy and in particular in the property sector. In response, Cambodian Prime Minister Samdech Hun Sen requested real estate companies to provide workers with compensation and delay payments as much as possible. The request was made at the opening ceremony of National Road 55 and National Road 10 on the morning of 9 March 2020...
Read More2015-2025 IDP action plan will double Sihanoukville’s potential
Sihanoukville is being transformed into a multi-purpose special economic zone following the principles of the Special Administrative Zone, according to the 4th point of the Ministry of Economy and Finance Press Release on Progress of 2015 – 2025 IDP Implementation. The Industrial Development Policy (IDP) represents a comprehensive vision of the Royal Government of Cambodia to embark on a “new e...
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